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When “Report the Item” Fails, It Affects Your Bottom Line

It is one thing to report the item and another to rely on the auctioneer to change a misleading lot description. If Proxibid’s “report the item” is going to work, the company has to enforce it on easily verified mistakes. This auction company committed several of them. We reported the items multiple times. Nothing was fixed.

If you’re an ethical auctioneer, especially one of our favorites in the left sidebar and think this doesn’t apply to you, keep reading this post to the last paragraph and you’ll see how Proxibid’s failure to enforce changes of this type affects your bottom line.

We certainly understand that typos and unintentional misidentified lots occur on the portal. Auctioneers or their assistants spend a lot of time typing lot descriptions. What we don’t understand is why some auctioneers won’t change mistakes when they are pointed out via Proxibid’s “report the item” link.

Once again, this doesn’t happen on eBay. The lot is taken down. Proxibid’s persistent “hand’s off” policies–if we notify auctioneers, then we have done our job–does little to affirm its brand of trust.

Here’s another misidentified lot that we reported twice:

The auctioneer didn’t change the misidentification.

We think Proxibid did send the notifications.

What can be verified is the auctioneer’s terms of service: “All items sold AS IS WHERE IS, all descriptions provided are for informational purposes only and should not be interpreted as creating any representation or warranty.”

Are you kidding? Does that service term allow an auctioneer to describe base metal as gold? Of course not. These errors fall under Proxibid’s service term “Significantly Not as Described.”

By the way, the 1889-O description was not changed on Proxibid during the auction. It sold for $120, about twice as much as an NGC MS63 1899-O was worth. See the evidence:

What’s the easier route, Proxibid? To go through dispute resolution or to require the auctioneer to fix easily identified errors in lot descriptions?

Here’s another thing Proxibid has to think about. The auctioneer may have corrected the wrong date for the live onsite crowd but not the online audience. If so, that meant Proxibidders were bidding up the lot that sold onsite for $120.

Because we care about numismatics and Proxibid, we need to go on record with this final statement: Failing to require fixes of this sort undermines Proxibid’s brand of trust.

And when that happens, our favorite auctioneers in the left sidebar suffer because hobbyists migrate to eBay. We don’t want to see that for best-selling auctioneers or Proxibid, either. We support both.

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.

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ALL TIME FAVORITE SELLERS:

NOTE: Auction houses in our top rankings do not see maximum bids or allow bidding by auctioneers or their employees. All rankings are based on Proxiblog buying experience to establish informed opinion. Your online experience may differ from ours or these reviews.

1. Capitol Coin Auctions25 points. One of the most professional coin houses on the portal and, in our opinion, one of the top sellers on Internet. Low buyer’s fee, 15%. Consignments are among the best, and owners write accurate lot descriptions that are of PCGS accuracy. Great photos, too--among the best on Proxibid. More than 35 years in the business. Hosts only a half dozen sessions per year, but each is an event with coins from estates. Never overlook this house on Proxibid.
2. Weaver Signature Coin and Currency Auction 25 points. Weaver Signature Coin and Currency Auction. Detailed photography. Best innovation. Top online advertisements. Numismatic descriptions. Low or tiered buyer's fees. Runs budget-saver auctions. Highly competitive, innovative. Provides detailed receipts for both buyers and sellers. Very responsive. See "On the Block" entry for more information. Usually ships within 3-4 days.
3. Fox Valley Coins24.5 points. One of our favorite Proxibid houses. Excellent consignments. This is the place where the best buys on the portal can be had if the bidder knows numismatics. We are excited to participate in each auction because of the vast array of key dates, varieties and rarities. Schedules only a few mega-auctions per year on Proxibid, but each one is an event! Now accepts credit cards. Photography greatly improved, which makes up for the lack of numismatic descriptions. Buyer’s premium is 18%.
4. SilverTowne Auctions24.5 points. Exceeds basic criteria in both buying and consignor categories. Among best coin grading and descriptions on Proxibid. Top consignment policy for rare coins. Timed auctions offer great bargains with good selections. Accepts returns on counterfeit coins or if error made in description. Among fastest shippers on Proxibid using numismatic packing. Usually ships within 1-2 days.
5. Leonard Auction24.5 points. Among the best consignments on Proxibid, and for good reason, too. John Leonard's policies of 0% seller's fee for lots that bring $250 or more ensures top numismatic items. Completely thorough lot descriptions. Quick shipping. Professional customer service. For more about this reputable house, see this "On the Block."6. Jewelry Exchange24.5 points. A long-standing reputable auction house featuring regular coin consignments, including gold, US and World coins (and on occasion Ancients) with 15% buyer’s premium, great customer service and quick shipping. Photography adequate; lot descriptions, accurate. See the company’s “On the Block” by clicking here.7. Krueger and Krueger Auction24.5 points. Kurt Krueger is a seasoned numismatist who conducts exemplary auctions on Proxibid. This house also is innovative and understands the importance of the online audience. Of particular note is his accurate lot descriptions. He’s not afraid to say “Hogwash” to bottom-tier alleged grades, and we love him for that.
8. Back to the Past Collectibles24.5 points. 10% online buyer’s fee. Excellent photos. Quick shipping. Auctioneer C. Scott Lovejoy has made significant improvements and secured fine consignments. We admire houses like his that aim to please the online bidder! Rapidly becoming one of the top coin auctions on Proxiblog.
9. Star Coin and Currency24.5 points. One of the best timed auctions on the portal. Keeps improving. Yet another company that pays attention to customer service. Sharp photography. Numismatic descriptions. Inexpensive, fast shipping.
10. Meares Auction24.5 points. Charges 5% online buyer's fee for coins. See this article for Darron Meares' innovations. Improved photography. Courteous customer service. Ships reasonably and quickly. Knows coins. One of the longest Proxibid sellers and top auction house; nationally recognized as leader in industry.
11. Kaufman Realty and Auctions 24.5 points. Kaufman Realty features strong consignments, fair photos, numismatic lot descriptions and regular coin auctions. 15% buyer’s fee makes looking here a must. Shipping time is improving. Always worth the wait.
12. McKee Coin Auction24.5 points. Charges 20% buyer's premium and doesn’t use APN, but gives 5% cash discount and uses PayPal. Consignments are improving, and photography is vastly improved. We know Owen McKee and are pleased that he is sharing his vast numismatic knowledge in his descriptions. You can also find the unexpected in his two-day 1500+ marathons, including Canadian coins. Shipping is reasonable but charges $1 per lot handling fee.
For other companies meeting basic criteria, click here.

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